Post by Logan on Feb 16, 2016 3:51:54 GMT -6
They’re ‘taking from us’ — Union retirees say prosperous pension fund is being raided
The way the union retirees of the old Western Electric plant in the Millard area see it, the money is theirs and that’s that.
And there are many hundreds — perhaps thousands — of them in the Omaha area.
What has made them mad? They say it is a simple case of a large corporation raiding their pension plan — the improper transfer of assets from their prosperous fund for hourly folks into an underfunded one for management and salaried workers.
“Theirs is running dry, and now they want to make it up by taking from us,” said Ray Sempek, a tool and die maker at the plant that manufactured telephone equipment such as cable and switching gear.
Read more: www.omaha.com/money/they-re-taking-from-us-union-retirees-say-prosperous-pension/article_4f851023-9dbb-58c6-aeac-76e46bf2cf4a.html
The way the union retirees of the old Western Electric plant in the Millard area see it, the money is theirs and that’s that.
And there are many hundreds — perhaps thousands — of them in the Omaha area.
What has made them mad? They say it is a simple case of a large corporation raiding their pension plan — the improper transfer of assets from their prosperous fund for hourly folks into an underfunded one for management and salaried workers.
“Theirs is running dry, and now they want to make it up by taking from us,” said Ray Sempek, a tool and die maker at the plant that manufactured telephone equipment such as cable and switching gear.
Read more: www.omaha.com/money/they-re-taking-from-us-union-retirees-say-prosperous-pension/article_4f851023-9dbb-58c6-aeac-76e46bf2cf4a.html